We’ll see ‘massive investment’ into US because of tax cut

Treasury Secretary Steven Mnuchin told CNBC on Friday of which lower corporate taxes will lead to more investment inside the United States.

“Fundamentally, This kind of has been a game changer for U.S. businesses,” Mnuchin said in a “Squawk Box” interview coming from the earth Economic Forum in Davos, Switzerland. “You’re going to see massive investment coming back to the U.S.”

“As the president said, we were with many CEOs last night of which said as soon as the tax plan was changed, they’re moving operations to the U.S.,” Mnuchin said.

President Donald Trump signed a bill last month of which slashed the corporate tax rate to 21 percent coming from 35 percent. Wall Street cheered the move, pushing stocks further into record territory. Several major companies, meanwhile, have announced one-time bonuses along with wage increases for employees following the bill’s signing.

Mnuchin added he thinks of which, “for the foreseeable future, we’re going to have a strong economy.”

Earlier on Friday, he told CNBC his recent remarks on the U.S. dollar were misunderstood.